منابع مشابه
Sequentially Rationalizable Choice
Cyclical choice is persistently observed in experimental evidence. It typically occurs in simple decision problems (involving only binary comparisons and few alternatives) and in significant proportions, sometimes nearing or even exceeding 50 percent. This is obviously incompatible with the classical model of ratio nal choice, in which choice is constructed as the maximizer of a single prefere...
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Article history: Received 4 October 2010 Available online 18 February 2011
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Rationalizability and similar notions of consistency have proved to be highly problematic in the context of social choice, as witnessed by a range of impossibility results, among which Arrow’s is the most prominent. We propose to rationalize choice functions by preference relations over sets of alternatives (set-rationalizability) and introduce two consistency conditions, α̂ and γ̂, which are def...
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We extend the result from Bossert and Sprumont (2013) that every single-valued choice function is backwards-induction rationalizable via strict preferences to the case of choice correspondences via weak preferences. JEL Classification Numbers: C72; D70
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“No-trade” theorems provide sufficient conditions for the absence of equilibrium trade between asymmetrically informed players.1 In this paper, we examine when trade is rationalizable. Since rationalizability is a weaker solution concept than equilibrium, trade is sometimes rationalizable, even when there is no equilibrium trade. We provide necessary and sufficient conditions for rationalizable...
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ژورنال
عنوان ژورنال: American Economic Review
سال: 2007
ISSN: 0002-8282
DOI: 10.1257/aer.97.5.1824